Preparing your Property for Sale
To renovate or not to renovate?
From the moment your home is put on the
market, potential purchasers will be driving by to look
it over. Your agent will also arrange for prospective buyers
to inspect your home at short notice, and you may decide
to hold one or more Open For Inspection sessions, where
your home is open to the general public.
If these prospective buyers fall in love with your home
at first sight, they may be willing to negotiate immediately.
It is therefore essential that you get your property looking
as attractive as possible. Renovating can be a great way
to add value to your property.
But it is important to keep in mind that the cost of renovations
may not always be covered by the corresponding increase
in sale price. Don't 'over capitalise', or spend a lot of
money on expensive renovations - like building on a new
bedroom or re-tiling the roof - which you won't get back
when the house is sold. Talk to your a registered valuer
if you are unsure whether a major improvement, such as repainting
the outside of your home, is worth your while.
- Make a master list of all the repairs, touch-ups and
improvements which need to be done.
- Ask your agent, friends and relatives to come over and
point out anything you may have overlooked: and ask them
to speak their mind!
- You might then organise a working bee to carry out the
biggest tasks, or hire a professional handyman.
- It is not a good idea to try to 'make your home something
it's not'. Renovations which suit the period of your home
may well increase its value,
but renovations which look too modern (or cheap!) may look
'tacked on' and turn off prospective buyers. Remember also
that prospective buyers often pay a premium for the potential
they can see in a 'renovator's delight'.
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